DONGYUE GROUP (00189) surged more than 4%. As of the time of writing, the stock was up 4.39%, trading at HK$11.9, with a turnover of HK$133 million. On the news front, according to data from Fluorine Affairs Online, on January 16th, the quoted prices for the two major refrigerant varieties, R507 and R404, reached 46,000-49,000 yuan/ton and 43,000-45,000 yuan/ton respectively, both jumping by 3,000 yuan/ton compared to the 14th. Furthermore, leading refrigerant companies have successively disclosed their 2025 performance pre-announcements. Sanmei Stock anticipates its 2025 net profit attributable to shareholders of the listed company to increase by 155.66%-176.11% year-on-year; Yonghe Stock expects its 2025 net profit attributable to parent company owners to grow by 110.87%-150.66% year-on-year. Changjiang Securities pointed out that DONGYUE GROUP is a leader in the fluorine-silicon industry. With the formal freezing of third-generation refrigerant quotas in 2024, the industry is expected to enter a long-term upward cycle; capital expenditure in the organic silicon sector has significantly slowed down, and with high demand growth, a reversal from the bottom is anticipated; the fluoropolymer segment is expected to see structural opportunities.